Maryland Casinos Up 44% To $69m In July

Maryland Casinos Up 44% To $69m In JulyThe state of Maryland has just released its casino figures for July, revealing a huge 44% increase in revenue to $69.3 million compared to $48.05 million for the same month last year. Of that total, $36.3 million was then collected by the state as taxes and put towards a variety of areas, including education spending, local impact grants, and small businesses, especially those owned by minorities and women.
Commenting on Maryland’s continuing impressive results, which were far in excess of what analysts had been predicting, gambling industry expert professor James Karmel, said: “Maryland is becoming more of a center for gaming on the East Coast. There is potential to go higher, depending on what takes shape in the next five years.”
Leading the way out of Maryland’s four casinos was Maryland Live, which reported a 48% improvement in revenue to $52.5 million, an increase of $17 million over the same period in 2012 when the casino had its first full month of operation. The state’s largest casino currently has 4,323 slot machines and 122 table games, and is expected to add a further 52 tables by way of its new poker room scheduled to open by the end of August.
Next, Hollywood Casino Perryville saw a 9% improvement in revenue to $7.5 million from its 1,158 slots and 22 table games, equivalent to an increase of $625,337 over last July.
Finally, the state’s smallest casino ‘Ocean Downs’ reported a 1.25% increase in revenue to $5.8 million from its 800 slot machines, while the Rocky Gap Casino generated $3.5 million during the month from its 558 slot machines and 10 table games, an improvement of $1 million over last year.
As Maryland’s casino industry continues to grow, there have also been concerns expressed by analysts that it could soon reach a saturation point. Others, however, believe that this was not an issue and in the meantime two more casinos are being considered by the state. Already, the Horseshoe Casino is under construction in Baltimore and slated to open in mid-2014, complete with 110 table games and around 3,750 slot machines.
Bidders are also vying for Maryland’s sixth casino license in Prince George’s County, with the winner expected to be picked by the end of the year.

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